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Chinese buyers in Seattle create real estate competition in Vancouver

VANCOUVER (NEWS1130) – Real-estate agents in Seattle have noticed an increased number of Chinese buyers investing in high-end homes in the area. The findings have led developers to build their homes in a way that will also attract buyers from China.

Back here in Vancouver, Chinese investors have been purchasing up-scale real estate for years and the Vancouver market will have to deal with competition from the south.

“Anything that will diminish demand in the high-end market, particularly from our foreign investors would potentially lead to easing price levels in that market” says Robin Weibe, a senior Economist on The Conference Board of Canada.

Even though Weibe expects prices to drop slightly in the Vancouver high-end housing market, he does not believe that the change will be significant.

“Vancouver has it’s own attractions and will be able to sustain it’s housing prices because of its attractive quality of life,” Weibe says.